financial credit back synonym

The process of reducing debt through regular installment payments of principal and interest that will result in the payoff of a loan at its maturity. The person who writes a check or draft instructing the drawee to pay someone else. To save this word, you'll need to log in. The billing summary produced and mailed at specified intervals, usually monthly. The monthly periodic rate, for example, is the cost of credit per month; the daily periodic rate is the cost of credit per day. This plan, also called an education savings plan, is typically sponsored by a state and may be available from a private investment firm. An individual who signs a loan, credit account, or promissory note of another person as support for the credit of the primary signer and who becomes responsible for the debt obligation. 1-800-613-6743 Federal agency responsible for the emergency evaluation and response to all disasters, natural and man-made. Generally, any loan in which the amount advanced, plus any finance charges, is expected to be repaid in full by a specified date. We're here to help! A person or organization that borrows something, especially money from a bank or other financial institution. Also known as variable-rate mortgages. Some fixed expenses, like a utility bill, may also be variable because the amount changes each month depending on usage. First published on Thu 6 Jul 2023 03.52 EDT. There is no fee to the borrower, who receives a full refund of all fees paid. A party who agrees to be responsible for the payment of another party's debts should that party default. Synonyms for financial backing include funding, sponsorship, support, backing, financing, patronization, financial support, venture capital, subsidy and capital. A community for which the Federal Emergency Management Agency (FEMA) has authorized the sale of flood insurance under the National Flood Insurance Program (NFIP). Download a PDF version of the Financial terms glossary . The amount of money that has to be paid for an insurance policy. For example, if you get a home loan, the bank's collateral is typically your house. A fee you may be charged if you check your prepaid card balance at an ATM or if you call customer service to ask about your balance. Federal, state, and local taxes on income, both earned (salaries, wages, tips, commissions) and unearned (interest, dividends). Explore guides to help you plan for big financial goals, Explore Financial Education Resources and Research. You can use your credit card to make purchases up to your credit limit. Most banks charge a fee for this service. See related questions about Bank Errors & Disputes and Credit Card Disputes. Initial cash payment made when something is bought on credit, such as a home or vehicle. A service you set up with a bank, credit union, prepaid card account, or a business you owe money to that lets you pay bills online or through a mobile app. antonyms. A savings account that offers a higher rate of interest in exchange for larger than normal deposits. For example, the customer would only have to provide one authorization form/letter/document to pay the cable bill each month. It is intended to prevent unauthorized use of the card while accessing a financial service terminal. A charge that appears on a periodic statement associated with an extension of credit (e.g., credit card) that. A check drawn on a bank and signed by an authorized bank official. Goals that can take a short time, or up to five years, to reach. Insurance offered by a private insurance company that protects the bank against loss on a defaulted mortgage up to the limit of the policy (usually 20 to 25 percent of the loan amount). You can use it the same way you would use the original check." The amount of money you plan to put aside for a specific purpose. The date that an investors investment is to be paid back in full in accordance with its agreement. A person or institution that manages trust accounts. Its the amount paid before insurance coverage kicks in. Without this period, you may have to pay interest from the date you use your card or when the purchase is posted to your account. You are using an out of date browser. To be eligible for coverage under the National Flood Insurance Program, a mobile home must be on a permanent foundation and meet specific anchoring requirements for its location. A company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt. This type of card has a network logo on it. Examination of a bank's assets, income, and expenses-as well as operations by representatives of federal and state bank supervisory authority-to ensure that the bank is solvent and is operating in conformity with banking laws and sound banking principles. A strip of relatively flat and normally dry land alongside a stream, river, or lake that is covered by water during a flood. A bank custodian is responsible for maintaining the safety of clients' assets held at one of the custodian's premises, a sub-custodian facility or an outside depository. These terms are used throughout the classroom activities and can help students better understand financial literacy concepts. The amount of money that something is worth. The expenses and losses that are not reimbursed by insurance. When someone steals your Social Security number to file a tax return claiming a fraudulent refund; may also be called tax-filing-related identity theft. The FCRA regulates consumer credit reporting and related industries to ensure that consumer information is reported in an accurate, timely, and complete manner. The maximum amount of credit that is available on a credit card or other line of credit account. You must log in or register to reply here. See related questions about Foreclosure. See related questions about Mortgages & Home Equity and Personal & Auto Loans. Smart Financial does not discriminate on the basis of race, sex, color, religion, age, national origin, marital status, disability, veteran status, genetic information . Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. See related questions about Mortgages. Bank Credit: Definition, How It Works, Types, and Examples - Investopedia Each share represents an investors part ownership in the fund and the income it generates. The benefits may be exempt from garnishment but you will have to alert the court or creditor. 153 Synonyms and Antonyms for Credit | YourDictionary.com Nglish: Translation of credit for Spanish Speakers, Britannica English: Translation of credit for Arabic Speakers, Britannica.com: Encyclopedia article about credit. Bank Credit synonyms - 68 Words and Phrases for Bank Credit Silicon Valley Bank Gets Back to Lending, Albeit at Slower Pace original host of Jeopardy. This number results from the financial information you provide in your Free Application for Federal Student Aid (FAFSA) form. Delinquencies rose across all "days past due" categories on a year-over-year basis, jumping from 0.16% of loans . # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z. Usually it means youre using a credit card, but it might also mean that you got a loan. synonyms. Tricking someone into wiring or transferring money to steal from them. financial support. 7:00 am - 7:00 pm CT. HelpWithMyBank.gov provides information and assistance for customers of national banks and federal savings associations. The funds are held by the escrow service until it receives the appropriate written or oral instructions-or until obligations have been fulfilled. Investors buy shares in mutual funds. Lists. Tags: reward credit cards, hotel perks, are credit card rewards worth it, help me hank, money advice, flight perks, credit card . See the manufactured (mobile) home definition. See related questions in Credit Reports. An account on which funds may not be withdrawn until a lien is satisfied and a court order or other legal process makes the account available for withdrawal (e.g., the account of a deceased person is frozen pending a court order distributing the funds to the new lawful owners). 3 A degree usually awarded for at least two years of full-time academic study beyond high school. When is faith a more appropriate choice than credit? These funds offer investors the advantages of diversification and professional management. A dishonest trick used to cheat somebody out of something important, like money. of a person's or an organization's ability to fulfill their financial commitments. A bank that is organized under the laws of a State and chartered by that State to conduct the business of banking. Subscribe to America's largest dictionary and get thousands more definitions and advanced searchad free! No hard pull on your credit. The lender in a mortgage loan relationship. When 'thingamajig' and 'thingamabob' just won't do, A simple way to keep them apart. Check 21 is a Federal law that is designed to enable banks to handle more checks electronically, which is intended to make check processing faster and more efficient. Generally, you can deposit checks into your account using this service, but not cash. The issuer promises to pay you a specified rate of interest during the life of the bond and to repay the principal also known as the bonds face value or par value when the bond "matures," or comes due after a set period. Some gigs are a type of short-term job, and some workers pursue gigs as a self-employment option. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own. A fee charged if you dont use your card for a certain period of time. Present the Budget. In most cases, you cant spend more money than you have already loaded onto your prepaid card. PMI is usually limited to loans with a high loan-to-value (LTV) ratio. The notice required by the Equal Credit Opportunity Act advising a credit applicant or existing debtor of the denial of their request for credit or advising of a change in terms considered unfavorable to the account holder. The words faith and credit can be used in similar contexts, but faith almost always implies certitude even where there is no evidence or proof. Transfers are sometimes subjected to a Balance Transfer Fee. The loan must be repaid when you die, sell your home, or no longer live there as your principal residence. Certificate of deposit (CD) A savings tool from a bank or credit union that has a fixed maturity date and a fixed interest rate. See related questions about Reverse Mortgages. See Who Regulates My Bank?for more information. A limit set by the credit card company on how much you can charge on the card it issued to you. The person (or bank) who is expected to pay a check or draft when it is presented for payment. A type of investment that gives people a share of ownership in a company. A fee charged every time you use the card for a certain type of transaction. financial allocation. The alert requires any creditor that is asked to extend credit to contact the consumer by phone and verify that the credit application was not made by an identity thief. Also called a gratuity. MLA includes servicemembers on active Guard or active Reserve duty, as well as spouses and certain dependents. See related questions about Funds Availability. The ability to meet all financial needs, today and over time; feel secure in the financial future; absorb a financial shock; and have the financial freedom to make choices to enjoy life. (Mutual funds are not covered by FDIC insurance). An account at a bank (sometimes called a share draft account at a credit union) that allows you to make deposits, pay bills, and make withdrawals. Credit Facility: A credit facility is a type of loan made in a business or corporate finance context, including revolving credit , term loans , committed facilities , letters of credit and most . The budget is one of the main components of a financial proposal. To receive something on loan with the understanding that you will return it. What is another word for "back payment"? - WordHippo Coinsurance in insurance, is the splitting or spreading of risk among multiple parties. The holder is not necessarily the insured. the signature of the drawer is genuine, and. See related questions about Flood Insurance. See related questions about Flood Insurance. A certificate signed by a lender indicating that a mortgage has been fully paid and all debts satisfied, also known as release of lien. See related questions about Interest-Bearing Accounts and FDIC Insurance. A single project or task for which a worker is hired to work on demand. If interest rates rise, so does the loan payment. A personal check drawn by an individual that is certified (guaranteed) to be good. Buying things without having planned for them beforehand. If that information is entered incorrectly, there is an encoding error.]. Financial. Merriam-Webster.com Thesaurus, Merriam-Webster, https://www.merriam-webster.com/thesaurus/financial. The periodic examination of escrow accounts by a mortgage company to verify that monthly deposits are sufficient to pay taxes, insurance, and other escrow-related items on when due. Loans in which your property (a thing you own) is used as collateral; if you cannot pay back the loan, the lender takes your collateral to get their money back. 2023. The World's most comprehensive free online dictionary, thesaurus, and encyclopedia with synonyms, definitions, idioms, abbreviations, and medical, financial, legal specialized dictionaries for more information. If not, the power of attorney usually expires when the person granting it dies. A checkless system for paying recurring bills with one authorization statement to a financial institution. A type of safe usually located in groups inside a bank vault and rented to customers for their use in storing valuable items. A bill-paying method you set up with the merchant or service provider. Something that is a disadvantage, money owed, or a debt or obligation according to law. Be sure to ask about fees or read the cardholder agreement associated with your card. See related questions about Electronic Transactions. A degree usually awarded for at least three years of full-time academic work beyond a bachelors degree. Learn a new word every day. See related questions about Debt Collection. A debit card is linked to your checking account. financial endowment. How it works Build credit while saving money, starting at $25^ per month. Tips go beyond the stated amount of the bill and are given voluntarily. A unit of ownership, often in a companys stock or in a mutual fund. Can be a synonym for occupation. longest river in the world. Embezzlement typically occurs in the employment and corporate settings. Loan funds are used by the borrower for education purposes. ChexSystems only shares information with the member institutions; it does not decide on new account openings. See related questions about Debit Cards. See related question about Check 21. The borrower is only billed for the amount that is actually borrowed plus any interest due. Common acronym for principal, interest, taxes, and insuranceused when describing the monthly charges on a mortgage. Customer Assistance: An extension of credit from a financial institution that is guaranteed by a Federal or State government entity to assist with tuition and other educational expenses. Once the property is sold, the lien holder is then paid the amount that is owed. It can be deducted directly from taxes owed. (Also called a charge account or open-end credit.). The payment history of an account over a specific period of time, including the number of times the account was past due or over limit. It also includes a person or organization that provides advice or assistance about how to improve a consumer's credit record, credit history or credit rating. Student loan forgiveness decision by Supreme Court to hit retailers - CNBC See related questions about Credit Denials. How much of a product is available to buy at any given time. But the "Angel of the Year-Business" lived up to its title. To participate, the investor may pay fees and expenses. See related questions about Home Equity Loans & Lines of Credit. A common warning sign is a letter asking you to send money or personal information now to receive something of value later. Self Credit Builder: Build Credit. Build Savings. Build Dreams. The borrower pays the premium. Federal loans also include benefits that private student loans dont usually offer. It is not the amount of money your family will have to pay for college nor is it the amount of federal student aid you will receive. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. Any person who regularly collects debts owed to others. See related questions in Credit Reports. 2 Pay off your Credit Builder Account in the specified amount of time. How to Identify Financial Abuse in a Relationship - Verywell Mind You provide the merchant or service provider (for example, your cell phone provider or utility company) with your checking account information and they take the funds from your account each time the bill is due (for example, every month). In the lending context, principal is the amount of money that you originally received from the lender and agreed to pay back on the loan with interest. A service which specializes in working with consumers who are overextended with debts and need to make arrangements with creditors. A law that requires taxes to be deducted from your pay to contribute to Social Security and Medicare; your employer contributes the same amount on your behalf. A card signed by each depositor and customer of a bank which may be used as a means of identification. In a merger, the bank that absorbs the bank acquired. Lene Gill, 31, is one of the borrowers who would have had $20,000 of her loans wiped away. Some common examples include car repairs, home repairs, medical bills, or a loss of income. A time deposit (also known as a term deposit) is a money deposit at a bank that cannot be withdrawn for a certain "term" or period of time. PAYBACK Synonyms: 20 Synonyms & Antonyms for PAYBACK | Thesaurus.com A company hired by a creditor to collect a debt that is owed. Xi Jinping warned Vladimir Putin against nuclear - Financial Times Not all prepaid cards charge inactivity fees. The activity of defrauding an online account holder of financial information by posing as a legitimate entity. Other businesses might use your credit reports to determine whether to offer you insurance; rent a house or apartment to you; or provide you with cable TV, Internet, utility, or cell phone service. Taxes on property, especially real estate, but also can be on boats, automobiles (often paid along with license fees), recreational vehicles, and business inventories. How is the word credit different from other nouns like it? Securities, funds, and other assets can be held in escrow. Goals that are specific, measurable, attainable, relevant, and timebound. APA: Classic Thesaurus. A person who signs a note to guarantee a loan made to another person and is jointly liable with the maker for repayment of the loan. The interest paid is usually tax-deductible. Shadow banking, in fact, symbolizes one of the many failings of the financial system leading up to the global crisis. [Magnetic Ink Character Recognition (MICR) is a character-recognition technology adopted mainly by the banking industry to facilitate the processing of checks. A person who has an account at a bank or credit union, but also uses an alternative financial service like a payday loan, check cashing, or a pawn shop loan. A Federal law that mandates that all the records created and kept by Federal agencies in the executive branch of government must be open for public inspection and copying. Also commonly referred to as a consumer reporting agency or credit bureaus. A plan people use to identify and consider factors like cost, features, and choices as they prepare to make a purchase. See related questions about Joint Account Liability. Index-linked Certificates of Deposit (CDs), Consumer Finance Protection Bureau (CFPB), Office of the Comptroller of the Currency. (2013). The Denver . The code is either randomly assigned by the bank or selected by the customer. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. Financial Literacy: What It Is, and Why It Is So Important - Investopedia Generally, the higher the ratio, the higher the perceived risk. A degree usually awarded for one or two years of full-time academic study beyond a bachelors degree. A fee assessed by your bank for making a transaction at another bank's ATM. Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives income from a public assistance program. Compare debit. The unauthorized movement or disclosure of sensitive information to a party, usually outside the organization, that is not authorized to have or see the information. See related questions about Electronic Transactions. A service that allows you to use a secure website to manage your bank or credit union account without the aid of a teller. A time of day established by a bank for receipt of deposits. JavaScript is disabled. See related questions about Home Equity Appraisals. Financial Distress: Definition, Signs, and Remedies - Investopedia An EFT authorized in advance to recur at substantially regular intervals. Itemssuch as drafts, notes, and acceptancesreceived for collection and credited to a depositor's account after payment has been received. synonyms for payback compensation reimbursement accrual accruement gain gate income interest proceeds profit reciprocation recompense reparation repayment reward take yield Compare Synonyms On this page you'll find 32 synonyms, antonyms, and words related to payback, such as: compensation, reimbursement, accrual, accruement, gain, and gate. credit usage and payment by the cardholder, and. The process used to imprint or inscribe MICR characters on checks, deposits, and other financial instruments. A business day during which an office of a bank is open to the public for substantially all of its banking functions. Employers withhold money for federal income taxes, Social Security and Medicare taxes, and state and local income taxes in some states and localities. A deceased person, ordinarily used with respect to one who has died recently. Something you spend your money on that you expect will earn a financial return. Indexes are available for the U.S. and various geographic areas. Under the Equal Credit Opportunity Act, a creditor's refusal to grant credit on the terms requested, termination of an existing account, or an unfavorable change in an existing account. The depository bank is the bank into which the check was deposited. The loan is underwritten based on the value of the collateral (home) and the life expectancy of the borrower. See related questions about Garnishments. Synonyms for CREDIT: faith, credence, belief, confidence, acknowledgment, trust, reliance, ascription; Antonyms for CREDIT: discredit, dishonor, unbelief, cash . Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. An organization authorized by statute for ensuring the safe and sound operation of financial institutions chartered to conduct business under that agency's jurisdiction. See related questions about Funds Availability. A warranty is for a specific period of time, usually a few years. Money market funds usually offer checkwriting privileges. A check written by a depositor that has not yet been presented for payment to or paid by the depositor's bank. A number created from a scoring model that uses information from your credit history. Credit Card Terminology: Glossary of Terms & Definitions Investors should carefully review the investment risk considerations detailed in the relevant offering documents and disclosure statements. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. 3. It can be used for home improvements, debt consolidation, and other major purchases. It is the total amount of funds financial institutions provide to an individual or . Financial Proposal - 10+ Examples, Format, Pdf | Examples Inconsistent amounts of money you receive through work or investments; both the schedule and the amount may vary. For example, a closed-loop card might be good only at a specific store or group of stores or on your public transportation system. While you can transfer money between accounts using this service, you generally cannot deposit checks or cash. Example: Comparing an up-to-date check book with a monthly statement from the financial institution holding the account. A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. See related questions about Non-Sufficient Funds. If you have multiple credit card accounts or loans, consolidation may be a way to simplify or lower payments. To free a piece of real estate from a mortgage. Like a 401(k) or IRA retirement plan, your account could go up or down depending on market performance. A period of time that allows the banks to exceed the maximum hold periods defined in the Expedited Funds Availability Act. An increase in the amount of wages or salary. Synonyms for Financial credit - Classic Thesaurus See related question about Funds Availability. A system established by a written agreement under which a financial institution is authorized by the customer to debit the customer's account in order to pay bills or make loan payments. A substitute check is a paper copy of the front and back of the . See related questions about Balance Transfers. A tax on the value of property you own at your death. Although the words credence and credit have much in common, credence suggests intellectual assent without implying anything about grounds for assent. A government corporation that insures the deposits of all national and State banks that are members of the Federal Reserve System. The required process for resolving errors involving electronic transfers to and from deposit accounts. The larger the security deposit, the higher the credit limit. A summary of your credit activity and current credit situation such as loan paying history and the status of your credit accounts. Credit financial definition of credit - Financial Dictionary Money looks different in different places around the world. The amount of money required to be on deposit in an account to qualify the depositor for special services or to waive a service charge. Subscribe to America's largest dictionary and get thousands more definitions and advanced searchad free! Savings bonds are issued in face value denominations by the U.S. Government in denominations ranging from $50 to $10,000. Index-linked CDs may have complicated payout structures and may not be suitable or appropriate for all investors. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. A percentage rate reflecting the total amount of interest paid on a deposit account based on the interest rate and the frequency of compounding for a 365-day year. Any payment received after this date is considered late; fees and penalties can be assessed. In the U.S. insurance market, coinsurance is the joint assumption of risk between the insurer and the insured.
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